Jul 2, 2011

MBA Notes: Strategic Management

Benefits of Strategic Management
The main advantages of strategic management has developed better strategies by aid agencies nor systematic, logical and realistic policy options.

Strategic Management offers the following financial and non financial:

Financial benefits of strategic management
First Study shows organizations, strategic management principles tend to be better rewarded than comparing productively with those who do not.

Second most powerful organizations tend to prepare for the implementation of strategic planning for future deviations in the external and internal environment. Companies with strategic planning have excellent long-term effectiveness in line with its monetary sector.

Non-financial benefits of strategic management
To avoid the first addition to the support of the destruction of corporate money, the strategic management of real additional benefits, including increased understanding of external threats, a better understanding of the strengths of competitors, improve employee productivity decreased resistance to change, and with a clear understanding of performance and rewarding relationships.

Second addition to strengthening management and employees, strategic management is often helpful to bring order and discipline to an organization.

Need and importance of strategic management
Why we need strategic management and why is it important? Strategic management is important for the following reasons:

Due to the rapidly changing business environment: In a rapidly changing environment, strategy formulation should be regarded as a continuous process of learning.

Provides guidance: Strategic Management sets guidelines for help and support for development, and provides a base from which progress can be measured.

Research and development: the strategic management process allows cross-functional approach to the management of R & D to ensure that the public R & D decisions and plans must be integrated and coordinated between the various departments.

Resource allocation: Strategic Management promotes an efficient allocation of resources to the business units.

Developed communication and coordination

Helps managers a holistic approach

Strategic Management and its objectives

Strategic management is the art and science of formulation, implementation and evaluation of various operational decisions that the organization can achieve its objective described.

Concept of strategy
The term "strategy" is acquired form the Greek word "Strategos" general sense. A plan or process or set of decision rules or makes an arrangement to create a common thread.

Strategic management is the process of strategy formulation, implementation, evaluation and control to achieve the strategic goal of organizations are defined.

The main objective of strategic management is to explore and new opportunities for the future in planning experiments to optimize long-term trends of tomorrow.

The main objective of strategic management is to explore and create new opportunities for future planning any long-term attempts to maximize the trends of tomorrow.

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